Stay updated with the latest savings-account news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on savings-account topics.
New Delhi: The Supreme Court on Wednesday set aside an order of bail to Olympic medallist and wrestler Sushil Kumar in a 2021 murder case of former junior national wrestling champion Sagar Dhankar at the Chhatrasal Stadium in the national capital. A bench of Justices Sanjay Karol and Prashant Kumar Mishra noted the allegations in the FIR, which said the national capital was made into a "criminal playground" to settle scores with no regard for the law of the land, and directed Kumar to surrender ...Read More >
MUMBAI: ICICI Bank has rolled back its rule requiring new savings accounts opened after Aug 1 to maintain a monthly average balance (MAB) of Rs 50,000 and has revised the threshold to Rs 15,000. The move follows a social media backlash against the higher balance requirement, which was criticised for making banking exclusive.The bank said it has revised its schedule of charges and MAB requirements following customer feedback. The changes do not apply to salary accounts, senior citizens above 60 y ...Read More >
New Delhi: Traffic in central Delhi will be affected on Thursday as the traffic police has issued an advisory due to the Janmashtami and Tazia processions.According to police, the traffic movement in Paharganj is likely to be affected from 1.30pm in view of the shobha yatra for Janmashtami and the Tazia procession.The Janmashtami procession will start from Mandir Shri Banke Bihari Ji in Paharganj's Sangatrasan Bazar and pass through Desh Bandhu Gupta Road, Chuna Mandi, Main Bazar, Munja Chowk an ...Read More >
Mumbai: Following public outrage, ICICI Bank on Wednesday partially reversed its minimum average balance (MAB) requirements from Rs 50,000 to Rs 15,000 for new customers in urban areas. Under the revised terms, new savings account holders in semi-urban and rural branches will be required to maintain Rs 7,500 and Rs 2,500, respectively, as against the Rs 25,000 and Rs 10,000 decided earlier by ICICI Bank. "We had introduced new requirements for the minimum Monthly Average Balance (MAB) for new S ...Read More >
New Delhi, August 13: Facing widespread outrage, private lender ICICI Bank on Wednesday partially reversed its minimum average balance (MAB) requirements from Rs 50,000 to Rs 15,000 for new customers in Metro and urban areas. The revision came after a pushback from customers and days after the second-largest bank in the country raised the MAB requirement from Rs 10,000 to Rs 50,000 for new customers in urban cities. The minimum balance that new ICICI Bank customers in semi-urban areas must main ...Read More >
Punjab National Bank (PNB) is well poised to touch the milestone of ₹30 lakh crore total business by the end of the current financial year and the country's second biggest lender has the right strategy in place to achieve it, the bank's MD and CEO Ashok Chandra said. Total business of PNB rose by 11.6 per cent to ₹27.19 crore at the end of the first quarter of the current financial year. PNB is closely followed by Bank of Baroda with total business of ₹26.43 lakh crore while Canara Bank at ...Read More >
BHUBANESWAR/BALASORE: The 20-year-old student in Odisha's Balasore who set herself ablaze on the campus on July 12 had informed college authorities that her HoD had sought sexual favours from her six months ago, probe revealed Friday."The student, in a meeting conducted on June 30 at the office of then principal -- who is now suspended -- told everyone that the HoD had sought sexual favours from her. However, the HoD denied the allegation," said the in-charge principal of the govt college, addin ...Read More >
Kolkata: Bandhan Bank's net profit in the first quarter of FY 2026 recorded a 65% slump at Rs 372 crore compared with Rs 1,063 crore posted in the year-ago period. Partha Pratim Sengupta, MD and CEO of the bank, attributed the decline to stress in microfinance asset.Even though the bank's total business grew by 11% to Rs 2.8 lakh crore last year, a 119% rise in provisions due to write-offs and high slippages in the microfinance book brought its Q1 net profit down, Sengupta said. "The loan book c ...Read More >
Mumbai, Jul 18 (PTI) A three-storey chawl collapsed in the western suburb of Bandra here in the early hours of Friday, with at least 10 people feared trapped in the debris, civic officials said. As many as seven people have been rescued from the debris so far and admitted to the civic-run Bhabha Hospital, they said. According to preliminary information, chawl number 37 in the Bharat Nagar area of Bandra East collapsed around 5.56 am. Eight fire engines are at the spot along with teams from th ...Read More >
HYDERABAD: State BJP president N Ramchander Rao on Thursday slammed the Congress government and Chief Minister A Revanth Reddy for failing to address farmers' issues despite completing 19 months in office. Speaking at the Kisan Morcha state office-bearers' meeting at the BJP headquarters in Hyderabad, he accused the state government of neglecting farmers due to its skewed policies. He urged party workers to collaborate with the Kisan Morcha to highlight farmers' grievances and counter the Cong ...Read More >
New Delhi: The Department of Posts (Financial Services Division), part of the Ministry of Communications has issued an order regarding Freezing of Small Savings Schemes accounts matured but not closed after 3 years. Department of Posts in an order issued on July 15 said that the order covers the following post office small savings schemes: 7. Public Provident Fund (PPF) (if not extended after maturity) "...it was decided to freeze matured accounts under the schemes MlS, SCSS, TD, KVP, NSC, RD ...Read More >
Patna: Non-vegetarian dishes have made Bihar's politics spicier on several occasions, and so union minister and senior JD (U) leader Rajiv Ranjan Singh aka Lalan Singh' recent mutton party for party workers and supporters under his Munger constituency was no exception. Lalan Singh listened to problems of common people at Suryagarha in Lakhisarai district of Bihar (part of Munger constituency) to sort them out with local authorities and also threw a mutton party for them, creating a controversy ...Read More >
MUMBAI : In the face of decadal-low savings rates, state-run banks are hoping that dropping charges for not maintaining a minimum balance will help hold customers' interest in bank deposits. The decision, said two bankers close to the matter, follows a regulatory push to address customer grievances, as well as internal surveys that estimated limited revenue loss if such minimum balances are not maintained. "The Reserve Bank of India wanted us to look into complaints, and this was one of the ma ...Read More >
New Delhi, July 17 (SocialNews.XYZ) After a challenging first half marked by margin compression and falling loan yields, India's banking sector is set to turn the corner in the third quarter of FY26 (3QFY26), a report said on Thursday. Private and public sector banks are entering a transition phase, where lagged benefits of deposit repricing, systemic liquidity infusion, and improving asset quality start to lift earnings, Motilal Oswal Institutional Equities said in a report. As per the report ...Read More >
Mumbai: In a shocking incident from the Chhatrapati Shivaji Maharaj Terminus (CSMT) area, a case of ATM card cloning and fraudulent withdrawals totaling Rs.1.19 lakh has surfaced from the ATM kiosk situated inside Mumbai's General Post Office (GPO). The MRA Marg police have registered an FIR against an unknown individual based on a complaint filed by a GPO official and launched a probe. According to MRA Marg Police, Vitthal Govindrao Pallewad (40), an officer with the GPO in Complaint and Inves ...Read More >
New Delhi: Good news for bank customers! Several major public sector banks in India have scrapped the requirement to maintain an Average Monthly Balance (AMB) in savings accounts. This move comes as a big relief for account holders, especially those struggling to meet the minimum balance rules. Average Monthly Balance (AMB) is the average amount you need to keep in your savings or current account every month. Banks calculate this at the end of each month. If your balance falls below the require ...Read More >
Mumbai: Public sector banks (PSBs) are in talks with the Finance Ministry to review the rule of maintaining a minimum balance in savings accounts. According to a report by Times of India, this discussion is taking place due to the declining share of CASA (Current Account Savings Account) deposits in banks' total deposits. The report states that the share of CASA deposits is shrinking, and during a recent meeting with the finance ministry, government officials raised a question: Why should custo ...Read More >
New Delhi [India], July 7 (ANI): Noting that at least five banks have waived the minimum balance requirement after customers 'hit back' by looking beyond banks at other avenues to place their savings, Congress leader P Chidambaram on Monday said 'what reason could not do, economics has achieved'. In a post on X, Chidambaram, a former Finance Minister, said savings account holders have complained to banks against the government-introduced rule of 'minimum balance' in the account and that some ba ...Read More >
Mumbai, July 5 (SocialNews.XYZ) Private lender IndusInd Bank has reported a 3.9 per cent year-on-year (YoY) fall in net advances to Rs 3,34,477 crore for the quarter ended June 30 (Q1 FY26). The figure stood at Rs 3,47,898 crore in the same period previous year (Q1 FY25). On a sequential basis, advances dropped 3.1 per cent from Rs 3,45,019 crore reported in the March quarter (Q4 FY25). The decline was largely driven by weak performance in the bank's corporate banking segment, which fell sharp ...Read More >
MUMBAI: Persistently robust growth in deposits ahead of credit disbursements, analysts believe, will likely help HDFC Bank match the pace of business expansion for the broader banking industry this fiscal after the merger with HDFC left the country's most valued lender a relative straggler for a couple of years. Provisional business data released by HDFC Bank on Friday showed that gross advances at the end of the first quarter ended June increased 7% to Rs 26.53 lakh crore, from Rs 24.86 lakh c ...Read More >
New Delhi: Bollywood top actress Deepika Padukone has once again proved that she is a global icon. The actress has been chosen as a recipient of prestigious Hollywood Walk of Fame star in the coming year. Deepika has pinned India on the global map as Hollywood Chamber of Commerce honours Deepika with her star on the Hollywood Walk of Fame for the class of 2026 in Motion Pictures category. Announced over a live-stream, it becomes even more special as Deepika becomes the first Indian to receive t ...Read More >
New Delhi: After Punjab National Bank, another PSU lender Indian Bank has announced waiver of minimum balance charges across all Savings Bank accounts. "Indian Bank has announced the complete waiver of minimum balance charges across all Savings Bank accounts, effective July 7, 2025. This move is aimed at fostering financial inclusion and making banking more accessible and affordable for all sections of society," the bank said in a statement. This move is set to benefit a vast spectrum of India ...Read More >
New Delhi: Punjab National Bank (PNB) has waived penal charges for non-maintenance of Minimum Average Balance (MAB) in all savings accounts, the bank said in a statement. "This customer-first initiative, effective from July 1, 2025, is particularly aimed at supporting priority segments such as women, farmers and low-income households, ensuring easier and more inclusive access to banking services without the stress of balance maintenance penalties," PNB said. The bank's previous Minimum Average ...Read More >
New Delhi, Jun 30 (PTI) The finance ministry directed private sector banks on Monday to increase their participation in the implementation of government schemes. The direction was given by Department of Financial Services Secretary M Nagaraju during a meeting to review the progress and performance of various financial-inclusion (FI) schemes, including the PMJDY, PMJJBY, PMSBY, APY PMMY and PM Vishwakarma, with the senior management of private sector banks. The meeting chaired by the secretary ...Read More >
Hyderabad: The Centre on Monday left interest rates unchanged for various small savings schemes, including Public Provident Fund (PPF) and National Savings Certificate, for the sixth straight quarter beginning July 1, 2025. "The rates of interest on various Small Savings Schemes for the second quarter of FY 2025-26 starting from 1st July, 2025 and ending on 30th September, 2025 shall remain unchanged from those notified for the first quarter (1st April, 2025 to 30th June, 2025) of FY 2025-26," ...Read More >
New Delhi, Jun 30 (PTI) The government on Monday left interest rates unchanged for various small savings schemes, including PPF and NSC, for the sixth straight quarter beginning July 1, 2025. "The rates of interest on various Small Savings Schemes for the second quarter of FY 2025-26 starting from 1st July, 2025 and ending on 30th September, 2025 shall remain unchanged from those notified for the first quarter (1st April, 2025 to 30th June, 2025) of FY 2025-26," the finance ministry said in a n ...Read More >
New Delhi: Taxpayers now have more time to file their Income Tax Returns (ITR), as the deadline has been extended to September 15, 2025. While many have already completed the process, others are still getting their documents in order. To make your ITR filing hassle-free, here are 8 important documents you should keep handy. 1. Form 16 Form-16 is a must-have if you're a salaried employee. It gives a detailed summary of your salary, along with the tax deducted by your employer during the year. ...Read More >
New Delhi: HDFC Bank has once again slashed its fixed deposit (FD) interest rates. This marks the second cut this month. The bank starting June 25, 2025 has reduced rates by 25 basis points on select FD tenures for deposits below Rs 3 crore. This latest move comes just two weeks after a similar rate cut on June 10, following the Reserve Bank of India's (RBI) decision to lower the repo rate from 6 per cent to 5.5 per cent. As India's largest private bank, HDFC's back-to-back cuts are likely to i ...Read More >
Mumbai: Banks will have to innovate to get fresh deposits as lower interest rates will make it more difficult to attract new savers, said investment experts. Products such as fixed deposit-linked credit cards, sweep-in deposits and savings bank-linked home loans will have to be marketed more as younger savers will continue to move towards capital market products like short-term debt funds, while senior citizens will be increasingly more dependent on government savings schemes, said bankers and i ...Read More >
Mumbai: Banks will have to innovate to get fresh deposits as lower interest rates will make it more difficult to attract new savers, said investment experts. Products such as fixed deposit-linked credit cards, sweep-in deposits and savings bank-linked home loans will have to be marketed more as younger savers will continue to move towards capital market products like short-term debt funds, while senior citizens will be increasingly more dependent on government savings schemes, said bankers and i ...Read More >
Stay updated with the latest None news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on None topics.